The Department of Posts achieved significant achievements in FY 16 in the implementation of core banking in more than 22,000 post offices and in postal life insurance too.  It also registered an overall growth of more than 80% compared to 45% last year in the eCommerce parcel segment and handling of Cash on Delivery (CoD) collections and disbursement have shot up from 500 crores last year to around 1300 crores total this year. A number of state of the art eCommerce parcel handling centres have been set up by the Department. These points were highlighted at its annual Heads of Circles Conference with the theme "Financial Sustainability," held at Hyderabad from May 20 to 22. The conference was inaugurated by S K Sinha, Secretary, Department of Posts and attended by senior officers of the Department. The purpose of the conference was to set the agenda of the Department in terms of annual revenue targets, focus areas, challenges & strategy for the current financial year. Minister of Communications & IT Ravi Shankar Prasad addressed the senior officers of the Department on May 22, 2016. The Minister also presented awards to best performing circles in Speed Post, the flagship product of India Post.